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Bloomberg: PetroChina considering temporary halt of U.S. LNG purchases

Published 08/13/2018, 04:17 AM
Updated 08/13/2018, 04:17 AM
© Reuters.  Bloomberg: PetroChina considering temporary halt of U.S. LNG purchases
  • PetroChina (NYSE:PTR) may temporarily halt purchases of spot U.S. liquefied natural gas spot cargoes through the winter to avoid potential tariffs amid the trade conflict between the U.S. and China, Bloomberg reports.
  • PTR, a unit of state-owned China national Petroleum Corp., would boost buying of spot cargoes from other countries or swap U.S. shipments with other eastern Asian countries to avoid paying additional tariffs, according to the report.
  • The move comes ahead of the winter heating season when demand and prices typically peak and shows that Chinese Pres. Xi may be willing to suffer some pain to avoid backing down in the dispute with Pres. Trump, the report says.
  • ETFs: UNG, UGAZ, DGAZ, BOIL, KOLD, UNL, DCNG, GAZB
  • Now read: Natural Gas Inventories Are The Reason For The Higher Range


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